Business Process Automation Cape Town and Managed IT Services
Business Process Automation Cape Town and Managed IT Services
Q: What is the primary function of this trade finance platform?
A: The platform serves as a central hub for managing the end-to-end supply chain documentation required for foreign payments. It connects the Client, the Treasury Operations Centre (TOC), the Bank, and Freight Forwarders to ensure all necessary documents—from Proforma Invoices to SAD 500s—are collated, audited, and submitted for Foreign Exchange Contracts (FEC) and spot deals.
Q: Who uses the platform?
A: The platform is designed for:
Clients/Importers: To upload invoices and view payment status.
TOC (Treasury Operations Centre): To manage workflows, speak to freight forwarders, and review compliance.
Banks: To receive auditable documentation packages for BOP reporting.
Freight Forwarders: To assist in retrieving customs documentation (SAD 500/MRN).
Q: Is the platform accessible on mobile devices?
A: Yes. The application is browser-based and fully responsive, functioning seamlessly as an application on desktop, mobile, and tablet devices.
Q: What is the difference between BOP Category 101 and BOP Category 103?
A: These categories define the timing of the payment relative to the movement of goods:
BOP 101 (Advance Payment): Payment is made before the goods have been cleared by customs. The importer must later provide the SAD 500 to “acquit” the transaction.
BOP 103 (Import Payment): Payment is made after goods have cleared customs. Proof of import (SAD 500/MRN) is provided at the time of the transaction, closing the loop immediately.
Q: How does the system handle Foreign Exchange Contracts (FEC) and Spot Deals?
A: The system is task-driven. It aggregates all documentation related to a specific FEC or spot deal from the bank. It ensures that before a deal is finalized or funds are released, the necessary compliance checks and document reviews are completed.
Q: How are exchange rate discrepancies handled?
A: Rates are tracked according to the commercial values on the SAD 500 documents versus the invoices. Any discrepancies in exchange rates trigger the system’s Exception Management Rules, allowing for manual review and annotation before approval.
Q: What happens if documents like the SAD 500 are missing?
A: The platform features an automated “Advance Payment Reminder” system. If a payment was made (BOP 101) but the SAD 500 hasn’t been uploaded yet, the system automatically sends reminders to the relevant parties to retrieve the missing documentation to avoid audit penalties.
Q: How does the system track customs entries?
A: We track three key reference numbers to ensure a full audit trail:
LRN: Local Reference Number.
MRN: Movement Reference Number.
SAD 500: The Single Administrative Document for customs declaration.
Any mismatches on the MRN can be annotated or rejected within the system.
Q: Can the system handle partial shipments or multiple invoices?
A: Yes.
Partial Shipments: You can include multiple SAD documents per single shipment/payment to account for goods arriving in batches.
Multiple Invoices: A file will only be “closed off” once all documents matching the total value of the multiple invoices are received.
Q: How does the platform integrate with existing ERP or Accounting systems?
A: The platform hosts documentation pulled directly from Accounting Systems/ERPs (such as Proforma Invoices and Purchase Orders). It combines these with external uploads to create a single source of truth.
Q: What security measures are in place for user logins?
A: We adhere to strict IT security best practices. Authentication is managed via:
AD: Active Directory integration.
OAUTH2: Secure token-based authentication.
PAM: Privileged Access Management for high-level administrative tasks.
Q: Is the system auditable?
A: Yes. All tasks, approvals, payment notes, and document movements are fully auditable in terms of both Accounting & IT security logs and business process history.
A single point of contact to manage orders, share shipping documents, and receive payments, including a clear view of VAT
and duty charges.
A dashboard that provides real-time tracking, automated alerts, and a clear overview of all your imports and their associated costs, including seamless reconciliation of your FEC.
A streamlined system for managing payments, foreign exchange transactions, and regulatory reporting, with built-in checks to ensure all documents are valid.
